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Learning Intentions:
To understand pricing decisions for growth
To know the factors affecting pricing decisions…read more

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Price Skimming
When a high price is set for a product when it first
enters a market. This strategy is used when there is
high demand.
When a business launches a new product it hopes
that there are people who are desperate to buy the
product so set the price high.
Helps firms to obtain the money needed to repay
development costs.…read more

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Penetration pricing
This approach is used to launch a product with a low
price in order to get sales quickly.
This strategy works best if customers are very
sensitive to price.
By producing on a larger scale, a business may get
its name known quickly & may also benefit from lower
costs by buy in supplies in bulk and from other
economies of sale.…read more

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Competitive pricing
Firms that use competitive pricing try to match the
price that others are charging.
Competitive pricing is common in markets where
there are a few big firms competing directly against
each other.
If products are similar then the price becomes an
important factor that will influence a customer's
decision to buy the product.…read more

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This presentation covers pricing strategies from a marketing point of view. It allows the student to select the parts of it they want to study so is quite interactive.

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